Greencastle Reports Increase in Royalty Value

TORONTO, ONTARIO, Apr 29 (MARKET WIRE) --
Greencastle Resources Ltd. ("Greencastle," or the "Company,") (TSX
VENTURE: VGN) is pleased to report that the Net Present Value before
income tax (discounted at 10%) of Greencastle's proved and probable
reserves increased to $3,683,000 from $3,226,000 for the prior year, as
reported in the Company's independent reserves evaluation dated March 23,
2009 for the year ended December 31, 2008. The difference is due to an
increase in estimated heavy oil reserves at the Company's main royalty
property near Primate, Saskatchewan.

Despite receiving royalties of $2,968,212 in fiscal 2008, the value of
the Primate royalty has actually increased as the field matures and more
information becomes available.

Greencastle has filed a Statement of Reserves Data and Other Information
for the year ended December 31, 2008, along with the corresponding
reports of the independent qualified reserves evaluator and of management
and directors of the Company for such period. A copy of the Company's
forms 51-101F1, 51-101F2 and 51-101F3, required pursuant to National
Instrument 51-101, are available for review on SEDAR at www.sedar.com.

This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act
of 1995. Without limitation, statements regarding potential
mineralization and resources, exploration results, and future plans and
objectives of the Company are forward looking statements that involve
various degrees of risk. The following are important factors that could
cause the Company's actual results to differ materially from those
expressed or implied by such forward looking statements: changes in the
world wide price of commodities, general market conditions, risks
inherent in exploration, risks associated with development, construction
and mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital. The Company relies on
litigation protection for forward looking statements.

Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Greencastle Resources Ltd.
Anthony Roodenburg
CEO
(416) 367-4571
www.greencastleresources.com

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